After the International Monetary Fund (IMF) approved Pakistan’s request for a bailout package on Friday (9th May), the Congress party and India Today ‘journalist’ Rajdeep Sardesai grabbed the opportunity to attack the Indian government by spreading lies. The IMF, despite Pakistan’s abysmal track record, approved the grant of $1 billion to the country under its Extended Fund Facility.
Congress accused the Modi government of ‘chickening out’
Congress MP Jairam Ramesh and Rajdeep Sardesai were quick to use the development to target the Indian government amid the ongoing hostilities between India and Pakistan. Ramesh accused the Modi government of ‘chickening out’ at the IMF and failing to vote against Pakistan’s loan request.
“On April 29th, the INC had demanded that India vote against the IMF loan to Pakistan, which was considered today by its Executive Board. India has only abstained from the vote. The Modi Government has chickened out. A strong NO would have sent a powerful signal,” Ramesh wrote on X on Friday.
On April 29th, the INC had demanded that India vote against the IMF loan to Pakistan, which was considered today by its Executive Board. India has only abstained from the vote. The Modi Government has chickened out. A strong NO would have sent a powerful signal. https://t.co/AhAwNyHnYo
— Jairam Ramesh (@Jairam_Ramesh) May 9, 2025
Sardesai questioned the Modi government for not voting against Pakistan
Journalist Rajdeep Sardesai also furthered the misinformation about the Indian government by questioning why India did not vote against Pakistan’s loan request at the IMF. “India abstains from vote for loan to Pakistan at the IMF executive board meeting..qs: why didn’t we vote against Islamabad given the stakes involved?” Sardesai posted on X on Friday.
Why India abstained from voting at the IMF
India registered a strong opposition against Pakistan’s loan request at the meeting of the Executive Board of the IMF. Citing Pakistan’s poor track record, India pointed out the possibility of Pakistan misusing the funds for sponsoring cross-border terrorism.
“Pakistan has been a prolonged borrower from the IMF, with a very poor track record of implementation and adherence to the IMF’s program conditions,” India said in its remarks.
India brought to the notice of the board that in the last 35 years, since 1989, the IMF has disbursed funds to Pakistan for 28 years, including four programmes the preceding 5 years without any significant reform.
It argued that Pakistan would not have sought another bailout package if these programmes had succeeded. India also said that, considering Pakistan’s Army interference in the country’s policy matters and economic affairs, there is hardly any hope for reforms.
Notably, the IMF does not allow its members the option to vote against a motion. The member countries only have two options- either to vote in favour or abstain from voting.
Therefore, in the absence of an option to vote against Pakistan’s loan request, India abstained from voting. By abstaining from voting, India conveyed its strong disapproval and formally recorded its objections.
India’s Abstention in IMF Vote on Pakistan Loan: Explained
Decision-Making at the IMFThe IMF Executive Board consists of 25 Directors who represent member countries or groups of countries. It handles daily operational matters, including loan approvals.
— DD News (@DDNewslive) May 9, 2025
The IMF Executive Board has 25 Directors representing member countries or groups of countries. The Board is responsible for handling daily operational matters, including loan approvals.
At the IMF, the member countries do not have one vote each, and the voting powers reflect the economic size of each member. Thus, countries like the US enjoy a disproportionately high voting share.
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